{"id":28516,"date":"2024-09-05T22:30:50","date_gmt":"2024-09-05T19:30:50","guid":{"rendered":"https:\/\/coinengineer.net\/blog\/?p=28516"},"modified":"2024-09-05T16:46:11","modified_gmt":"2024-09-05T13:46:11","slug":"bitcoin-etf-market-faces-continued-outflows","status":"publish","type":"post","link":"https:\/\/coinengineer.net\/blog\/bitcoin-etf-market-faces-continued-outflows\/","title":{"rendered":"Bitcoin ETF Market Faces Continued Outflows, Grayscale Sees Largest Exodus"},"content":{"rendered":"

With $34.25 million<\/strong> exiting the fund, Grayscale’s GBTC<\/strong> witnessed the most withdrawals among U.S. spot Bitcoin ETFs<\/strong> on Wednesday. This was the sixth day in a run of negative flows throughout the Bitcoin ETF market. Trading at $57,276 at the time of writing, Bitcoin rose 0.97% over the last 24 hours despite the withdrawals.<\/p>\n

SosoValue’s data shows that on Wednesday $37.29 million overall left spot Bitcoin ETFs. Along with GBTC’s losses, Fidelity’s FBTC<\/strong> saw $7.59 million in net outflows while VanEck’s HODL noted $4.91 million left the fund. By comparison, Bitwise’s BITB attracted $9.46 million and was the only ETF with net inflows. Seven other ETFs as well as BlackRock’s IBIT, the biggest spot Bitcoin ETF, saw zero daily inflows.<\/p>\n

Reflecting the declining market activity, the total daily trading volume for the twelve Bitcoin ETFs dropped to $1.41 billion on Wednesday from $1.56 billion the day before.<\/p>\n

With $37.51 million in net withdrawals, U.S. spot Ethereum ETFs likewise saw negative flows for the second straight day of such losses. While the Grayscale Ethereum Mini Trust (ETH) attracted $3.12 million in inflows, the Grayscale Ethereum Trust (ETHE) suffered losses of $40.63 million and carried most of these outflows.<\/p>\n

The seven surviving spot Ether ETFs reported no flows in meanwhile. Wednesday’s total trading volume for the nine Ether ETFs fell from $163.5 million the day before to $145.86 million.<\/p>\n

Market mood is still wary as Bitcoin and Ethereum ETFs face outflows; experts will be keenly observing if these developments continue in the next days.<\/p>\n

You can also freely share your thoughts and comments about the topic in the comment section. Additionally, don\u2019t forget to follow us on our <\/span><\/i>Telegram, <\/span><\/i><\/a>YouTube<\/span><\/i><\/a>, and <\/span><\/i>Twitter<\/span><\/i><\/a> channels for the latest <\/span><\/i>news<\/span><\/i><\/a> and updates.<\/span><\/i><\/p>\n","protected":false},"excerpt":{"rendered":"

With $34.25 million exiting the fund, Grayscale’s GBTC witnessed the most withdrawals among U.S. spot Bitcoin ETFs on Wednesday. This was the sixth day in a run of negative flows throughout the Bitcoin ETF market. Trading at $57,276 at the time of writing, Bitcoin rose 0.97% over the last 24 hours despite the withdrawals. SosoValue’s<\/p>\n","protected":false},"author":6,"featured_media":9229,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9,657,1],"tags":[534,7297,5866],"class_list":["post-28516","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto-news","category-en","category-genel","tag-bitcoin-etf","tag-fidelity-fbtc","tag-grayscale-gbtc"],"yoast_head":"\nBitcoin ETF Market Faces Continued Outflows, Grayscale Sees Largest Exodus - Coin Engineer<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/coinengineer.net\/blog\/bitcoin-etf-market-faces-continued-outflows\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Bitcoin ETF Market Faces Continued Outflows, Grayscale Sees Largest Exodus - Coin Engineer\" \/>\n<meta property=\"og:description\" content=\"With $34.25 million exiting the fund, Grayscale’s GBTC witnessed the most withdrawals among U.S. spot Bitcoin ETFs on Wednesday. This was the sixth day in a run of negative flows throughout the Bitcoin ETF market. Trading at $57,276 at the time of writing, Bitcoin rose 0.97% over the last 24 hours despite the withdrawals. 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